(Updated with official response from the White House)
President Trump has agreed to an ethics provision in the CLARITY Act, according to posts from two US political reporters, potentially clearing the final obstacle to a Senate vote on the crypto market structure bill.
Eleanor Terrett of Crypto in America wrote on X on Monday: "I'm hearing from multiple industry sources that the White House has agreed on an ethics package for the Clarity Act and sent the language to certain Senate Republicans this afternoon. It's still unclear what the details of the agreement are." Brendan Pedersen of Punchbowl News reported a similar account the same day. Neither reporter has published the specific language, and Democrats reportedly have not yet seen the text.
The provision would bar the president, vice president, members of Congress and other senior officials from profiting from digital assets while in office, an obstacle that has clouded the bill's prospects for months. It follows a 16 Jul meeting between Trump, Republican Sens. Bernie Moreno and Cynthia Lummis and White House adviser Patrick Witt, which had reportedly ended without agreement. The Senate must act before its August recess.
Sandmark received a response from the White House, stating: "The administration is committed to working with Congress to see the CLARITY Act advance and has agreed to the most comprehensive and wide-ranging ethics provision in history. If Senate Democrats block this historic legislation after the administration has bent over backward to accommodate their concerns, stakeholders should make no mistake: it is the Democrats who are blocking this legislation because they were never serious about a legislative outcome."
